Daily ETF Roundup: XLU Pops, EWZ Rallies Alongside Petrobras

U.S. equities got off to a strong start this week with the Dow Jones Industrial Average and S&P 500 logging in record closes. Though trading was relatively light, investors turned their attention to China’s GDP figures; the nation’s annual economic growth slowed to 7.5% in the second quarter from 7.7%. In other economic news, retail sales rose just 0.4% in June, greatly missing expectations of a 0.8% uptick. Meanwhile, New York State’s manufacturing sector grew 9.46 in July from 7.84 in June [see The Cheapest ETF for Every Investment Objective].

Global Market Overview: XLU Pops, EWZ Rallies Alongside Petrobras

Despite a light trading session, all three major U.S. equity indexes rose to close in positive territory. The Dow Jones Industrial Average ETF (DIA, A-) gained 0.30%, after its underlying index traded within 60 points from its all-time high. The S&P 500 ETF (SPY, A) traded 0.39% higher, while the tech-heavy Nasdaq ETF (QQQ, B+) gained 0.20%.

In Europe, markets were broadly higher; the Stoxx Europe 600 rose 0.4%. Meanwhile, China’s Shanghai Composite rose 1.0% after China’s GDP came in at 7.5%, in line with analyst expectations. Japanese markets were closed for a holiday.

The Utilities Select Sector SPDR ETF (XLU, A) was one of the best performers today, gaining 1.63% during the session. Utilities shares were among today’s top performers, allowing this ETF to rally throughout the first three hours of trading. XLU eventually settled at $39.27 a share [see High Tech ETFdb Portfolio].

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